Veterinary Eye Care Market – Introduction
Veterinary eye care has been going through a phase of technological advancements, which have found effective cure for numerous ophthalmologic treatments.
Increasing incidences of eye disorders among the pets in parallel to their early aging are the primary factors driving the growth of the veterinary eye care market. The global veterinary eye care market is expected to witness moderate growth over the forecast period. Several veterinary drugs are introduced in the veterinary eye care market.
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The Key trends Analysis of Veterinary Eye Care also provides dynamics that are responsible for influencing the future Sales and Demand of Veterinary Eye Care market over the forecast period.
Further, the Veterinary Eye Care market Survey report emphasizes the adoption pattern And Demand of Veterinary Eye Care Market across various industries.
The Veterinary Eye Care Sales study offers a comprehensive analysis on diverse features including production capacities, Veterinary Eye Care demand, product developments, Veterinary Eye Care revenue generation and Veterinary Eye Care Market Outlook across the globe.
Veterinary Eye Care Market: Segmentation
The global veterinary eye care market can be segmented on the basis of treatment, indication, end users and geography.
Based on treatment, the global veterinary eye care market has been segmented into:
- Medical Treatment
- Eye Drops
- Ointments
- Injections
- Drugs
- Cyclosporine
- Tacrolimus
- Corticosteroids
- Others
- Surgery
- Diode Laser Surgery
- Retinopexies
- Retino Reattachment
- Endoscopic CPC
- Cataract Phacoemulsification & Lens Replacement
- Automated Vitrectomy
- Glaucoma Drainage Implant Surgery
- Diode Laser Surgery
Based on indications, the global veterinary eye care market has been segmented into:
- Ocular Surface Disorders
- Glaucoma
- Cataract
- Anterior Uveitis
- Retinal Diseases
- Corneal Disease
- Others
Based on distribution channel, the global veterinary eye care market has been segmented into:
- Veterinary Hospitals
- Veterinary Clinics
- Retail Pharmacies
- Drug Stores
- Online Pharmacy
- Others
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Competitive Landscape Analysis On Veterinary Eye Care Market:
To provide decision-makers with credible insights on their competitive landscape, the Veterinary Eye Care industry research report includes detailed market competitive landscape analysis.
The competitive landscape analysis for Veterinary Eye Care Market includes detailed profiles of Tier 1, Tier 2, and Tier 3 players. The respective market share of Veterinary Eye Care manufacturers is provided so business leaders can understand the market scenario.
Veterinary Eye Care Market: Snapshot
The global veterinary eye care market is expected to witness moderate growth over the forecast period. Several veterinary drugs are introduced in the veterinary eye care market. Of these, some are still under clinical trials and thus, there is high competition among local and regional players.
Among the two treatment types, the medical treatment segment, which includes eye drops, ointments, and drugs, is expected to lead the global veterinary eye care market over the forecast period.
The retail pharmacy distribution channels segment is expected to contribute a high share in the global veterinary eye care market as it is the most accessible channel and outpatient treatment is recommended for most animals.
Veterinary hospitals also account for significant revenue generation in veterinary eye care market owing to a large number of eye surgeries performed by veterinarians in these facilities.
List of the Leading Companies Profiled in the Veterinary Eye Care Market are:
The global veterinary eye care market is highly fragmented owing to presence of large number of domestic manufacturers. Some of the key players operating in the global veterinary eye care market are Bausch & Lomb Incorporated; I-Med Animal Health; Menicon Co., Ltd.; Animal Eye Care LLC and Akorn, Inc., among others.
Veterinary eye care market has been growing on account of the key developments proposed and implemented by the key players. These players have been strengthening their position in the market by leveraging expansion strategies. In addition, an increase in the funding has offered a smooth path for the advancements to these veterinary eye care market players.
Some of the key players operating in the veterinary eye care market constitute of Akorn, Inc., Animal Eye Care LLC, Menicon Co., Ltd., I-Med Animal Health, and Bausch & Lomb Incorporated. Some of the novel developments implemented by these companies are as discussed below.
- Mergers and acquisitions have been a strategy for availing two-way benefits for the companies. Along the same lines, Pathway acquired Eye Care for Animals (ECFA) in 2017, to leverage ECFA’s growth model and stay sustainable in the intensely competitive veterinary eye care market.
- In April 2018, Mars Petcare completed the acquisition of OptiGen LLC, to conduct the highest quality of DNA testing especially for dogs. This testing will help in detecting several health risks among the mixed-breed dogs.
- Recently, I-Med Pharma entered into an agreement with DryCom to open up a distribution channel for I-PEN Tear Osmolarity System in Brazil.
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Veterinary Eye Care Market: Regional Outlook
Geographically, the global veterinary eye care market is segmented into North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
North America is expected to be the dominant market in the global veterinary eye care market owing to high prevalence of eye diseases among animals and high spending on vet care as compared to other regions.
The veterinary eye care market in APEJ is expected to grow at a significant CAGR due to an increase in the number of products offered by key domestic players. Europe is expected to register the second-largest share in the global veterinary eye care market throughout the forecast period owing to increased awareness about veterinary eye diseases among pet owners.
Veterinary Eye Care Market – Dynamics
With the large adoption of pets and increasing awareness pertaining to the eye disorders have encouraged the veterinary eye care providers to improve the quality of their products and develop effective therapies that ensure speedy recovery of pets.
In addition, technological advancements in the healthcare industry have been helping the medical practitioners to provide painless surgeries, which is gaining momentum in the veterinary eye care market.
Veterinary Eye Care Market – Restraints
- Hesitance in the adoption of advanced eye care infrastructure, on the back of high initial investment costs, is expected to limit the growth of the veterinary eye care market.
- Lack of awareness pertaining to the eye care of pets in the developing countries and average healthcare facilities to dampen the growth of the veterinary eye care market.
North America to Remain the Largest Veterinary Eye Care Market
Increase in the GHDI of consumers and rising adoption of pets is expected to expand the spending capacity on vet care in North America.
In addition, developed healthcare infrastructures and concentration of key market players bringing in the innovation are expected to influence the growth of the veterinary eye care market in the forthcoming years.
Europe will hold the second position in the veterinary eye care market, which can be attributed to the popular trends of pet adoption and excellent pet insurance policies.
However, Asia Pacific to witness a sluggish growth of the veterinary eye care market with slow traction of pet adoption propensities.
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